{
  "id": 17875138,
  "title": "The rise and fall of Argentina’s $LIBRA case: the crypto scandal that threatened Milei and ended in a controversial dismissal",
  "url": "https://urgent.news/2026/11/02/the-rise-and-fall-of-argentinas-libra-case-the-crypto-scandal-that",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T23:02:44.000Z",
  "source": {
    "name": "Argentina Reports",
    "slug": "argentina-reports",
    "url": "https://argentinareports.com/the-rise-and-fall-of-argentinas-libra-case-the-crypto-scandal-that-threatened-milei-and-ended-in-a-controversial-dismissal/4369/"
  },
  "original_language": "en",
  "account": "An Argentine federal court dismissed a complaint against President Javier Milei and ten other suspects in a $LIBRA cryptocurrency case on October 23, 2025. The opposition and alleged victims strongly criticized the decision, claiming it reflected an alleged exchange of favors between the government and the judges involved. However, another prosecutor specializing in government corruption cases asked the judge to allow the investigation to continue, citing evidence that still needed to be examined.\n\nThe alleged victims had appealed their removal as plaintiffs earlier, arguing that their legal status as \"pretensos querellantes\" preserved their right to continue fighting through the courts. The specialized prosecution office, Procuraduría de Investigaciones Administrativas, also challenged the dismissal of the suspects, arguing that the investigation contained indications of a fraudulent scheme.\n\nThe scandal began with a post on X (formerly Twitter) on February 14, 2025, where President Milei shared a smart contract address for a cryptocurrency called $LIBRA. The token's price skyrocketed after the post, only to plummet shortly after, leaving thousands of buyers with significant losses. The creators of $LIBRA then pulled nearly $110 million in liquidity from the market, a tactic known as a \"pump and dump.\"\n\nCrypto experts and witnesses alleged that Milei's endorsement of the token artificially inflated its price before insiders cashed out. One of the affiliates of the $LIBRA token, Hayden Davis, had met with Milei at a January 30, 2025 event, where Davis was allegedly offered a position as an adviser. Moments later, Davis transferred $1 million in cryptocurrency to an Argentine intermediary connected to Milei's associates.\n\nDespite the dismissal of the case, the investigation into $LIBRA continues, with potential evidence pointing to a fraudulent agreement. President Milei responded to the dismissal by criticizing the media and threatening legal action against journalists he accused of defaming him.",
  "summary": "A year and eight months after the president promoted a token that collapsed within hours, a federal judge dismissed the complaint. Victims say the process was tainted, but a prosecutor is seeking to revive the case. The post The rise and fall of Argentina’s $LIBRA case: the crypto scandal that threatened Milei and ended in a controversial dismissal appeared first on Argentina Reports .",
  "key_points": [
    "Argentine court dismisses $LIBRA case against President Milei on October 23, 2025",
    "Opposition and alleged victims criticize decision as favor exchange",
    "Specialized prosecutor requests continuation of investigation citing evidence"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}